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2205 Pleasant Ave S 6 Unit Apartment Building $980,200 ($163,367/Unit) 6.95% Cap Rate Minneapolis, MN 55404
Investment Highlights
- Many Updates
- New Roof
- Large Units
- 100% Occupancy
- Great Location
Executive Summary
2205 Pleasant Avenue/215 West 22nd Street is a 6-unit apartment building consisting of four 3-bedroom units and two 2-Bedroom units on the top floor. Historic apartments near the Wedge and Whittier neighborhoods. This property features large living room and dining spaces, ample closets for storage, and covered communal porches and balconies to enjoy the seasons. This property is also close to the bus line. The apartments differ and can feature ceiling fans, hardwood floors, updated kitchen cabinetry, large pantry space, dishwashers, or fireplaces. Newer roofs, modern boilers, newer hot water heaters and updated electric.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $980,200 | Apartment Style | Low-Rise |
| Price Per Unit | $163,367 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 6.95% | Building Size | 16,419 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1911/2023 |
| Zoning | R2B - BFI3 / Interior 3 Built Form Overlay District UN2 / Urban Neighborhood District  | ||
| Price | $980,200 |
| Price Per Unit | $163,367 |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 16,419 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1911/2023 |
| Zoning | R2B - BFI3 / Interior 3 Built Form Overlay District UN2 / Urban Neighborhood District  |
Amenities
Unit Amenities
- Porch
Site Amenities
- Laundry Facilities
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,325 | 950 |
| 3+1 | 4 | $1,995 | 1,200 - 2,000 |
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Exceptionally walkable
90/100
Moderately drivable
60/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 34-029-24-21-0093 | Total Assessment | $844,000 (2024) |
| Land Assessment | $329,400 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $514,600 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
34-029-24-21-0093
Land Assessment
$329,400 (2024)
Improvements Assessment
$514,600 (2024)
Total Assessment
$844,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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2205 Pleasant Ave S
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